Northern New Energy Signs Cooperation Framework Agreement

Apr 11, 2018 20:00 JST

Source: Northern New Energy Holdings Limited

Partners to Cooperate in Coal-to-gas Conversion Heating Areas;
Grasps Opportunities Arising from Strong Demand for Clean New Energy

HONG KONG, Apr 11, 2018 - (ACN Newswire) - Northern New Energy Holdings Limited ("Northern New Energy" / the "Group", stock code: 8246) has signed a cooperation framework agreement , via its subsidiary Hua Xia Northern Technology Development (Tianjin) Limited, with Tianjin Jinre Heat-Supply Group Co. Ltd ( "Tianjin Jinre" ) and Tractebel Engineering S.A. ( "TRACTEBEL" ) on cooperation in such areas as coal-to-gas conversion heating projects, improving the service of heating facilities and networks, energy efficiency management and construction of gas storage facilities. The cooperation is expected to enable the Group to upgrade its professional technologies for grasping opportunities arising from the strong demand for clean new energy in Tianjin, as well as develop into an enterprise capable of offering diverse integrated new energy services.

The agreement outlines for the signing parties such commitments as: (i) to cooperate, research and formulate comprehensive and feasible proposals for coal-to-gas conversion heating projects and improve the service of heating facilities and networks; (ii) to research and formulate feasible proposals for efficient heating network efficiency management solutions, especially on saving natural gas; and (iii) to develop LNG storage solutions, conduct research on construction of gas storage facilities and expand the capacity of existing storage tanks, including storage tanks of capacity more than 4,000 m3. The Group, Tianjin Jinre and TRACTEBEL have agreed to jointly submit a feasible proposal regarding the scope of cooperation to relevant government agencies on or before 30 September 2018.

At the end of last year, the PRC government announced the "2017-2021 Winter Clean Heating Plan in Northern China", which promises enormous business opportunities to the new energy sector and benefits to the all-round development of the Group. In the long run, the Group will strive to develop its diverse integrated new energy services, expand its new energy business to cover nearby areas in the north and continue to explore opportunities of multi-lateral cooperation, so as to generate greater shareholder value.

Northern New Energy Holdings Limited
Northern New Energy Holdings Limited formerly known as Noble House (China) Holdings Limited, is a company listed on the GEM Board of the Hong Kong Stock Exchange since 2011 (stock code: 8246). In 2015, the Group began to develop new energy operations and R&D of related technologies, plus construction engineering business. The Group also operates restaurants, provides management services, and sells processed food and seafood. Also in 2015, the Group further diversified its business to cover also property investment.

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Source: Northern New Energy Holdings Limited
Sectors: Daily Finance, Energy, Alternatives, Daily News